DAOs Beware: Neo-Imperialism Is on the Rise in Crypto-Land

DAOs Beware: Neo-Imperialism Is on the Rise in Crypto-Land


Sometimes I have to read a text twice before grasping its full implications.

This happened to me with a recent blog post by the legal team of Andreessen Horowitz (a16z), one of the largest venture capital firms active in crypto. The text introduces the Wyoming DUNA, a newly created legal entity type designed to cater to the needs of decentralized autonomous organizations (DAOs).

At first sight, everything seems perfectly reasonable with DUNAs, short for a “decentralized unincorporated nonprofit association.” But read again more carefully, as someone who is truly passionate about the principles of decentralization left me with an uncomfortable feeling. Where did this discomfort come from?

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